Major Asset Classes April 2023 Performance Comparison Introduction April 2023 market returns were favorable for large cap stocks, but were less rewarding for many other asset classes. For example, total returns for the S&P 500 Index (+1.5%) and international large cap stocks (+2.8%) beat the NASDAQ-100 index (-0.1%) and emerging […]

Major Asset Classes March 2023 Performance Comparison Introduction March 2023 returns capped a quarter of broad gains, but with considerable volatility along the way.  Total returns for the S&P 500 Index (3.5%) lagged behind the NASDAQ index (+9.5%), which had its best March since 2010.  Thanks to the melt-up in […]

Major Asset Classes February 2023 Performance Comparison Introduction February 2023 returns reversed the momentum seen in January with losses across equities, credit, sovereign bonds, and commodities.  The S&P 500 Index (-2.3%) lagged behind the NASDAQ index (-0.7%), but managed to outperform international developed markets (-3.35).  European equities (–2.5%) proved more […]

Major Asset Classes January 2023 Performance Comparison Introduction January 2023 returns will be remembered by investors.  The S&P 500 Index was up +6.2% ,while the NASDAQ 100 index was up +10.6%.  Meanwhile, international markets clearly outperformed the US.  16 of 22 developed markets had stock market returns higher the S&P […]

Major Asset Classes December 2022 Performance Comparison Introduction December 2022 returns were negative across all asset classes.  The S&P 500 Index ended the year down -19.4%, yielding the 6th largest drawdown since 1930.  Meanwhile, the 30-year T-Bond fared much worse, losing -31.2%.  The large-cap energy sector (+64.3%) has been the […]

Major Asset Classes November 2022 Performance Comparison Introduction November 2022 equity market returns were strong in the US and were especially strong across international equity markets.  The relief rally that began in October benefited from revised expectations and confirmation that Fed rate increases would moderate.  For example, the S&P 500 […]

Major Asset Classes October 2022 Performance Comparison Introduction October returns benefited from a relief rally and expectations the pace of Fed rate increases might be  slowing.  For example, the S&P 500 index achieved a new low for the year at 3505, but then went on to post monthly gains close […]

Major Asset Classes September 2022 Performance Comparison Introduction September returns across the major asset classes were negative.  For example, the S&P 500 index achieved a new low for the year and three consecutive quarterly losses.  Returns in developed and emerging stock markets were also negative.  Both sectors fared even worse […]

Major Asset Classes August 2022 Performance Comparison Introduction August returns have been finalized and confirm the end of the summer rally.  Losses were evident across all major asset classes.  For example, US equity indexes were down and fared better than developing market indices, but trailed the performance of emerging market […]